Lundbeck's nine-month sales rise 11%

9 November 2022

Denmark-based CNS specialist Lundbeck (LUND: CO) saw its shares rise nearly 4% to 28.48 Danish kroner in early trading, after the company released financial results for the first nine months of 2022.

Total sales for the period increased 11% (+6% in local currencies) to 13.6 billion kroner ($3.0 billion). Growth of Lundbeck’s strategic brands accelerated further rising 30% (+19% in local currencies) in the first nine months of 2022 thereby reaching 8.8 billion kroner and, representing 65% of overall revenue.

Currency favorability on product sales was partially offset by negative hedging effects of 401 million kroner. Individual cost items significantly impacted by exchange rates.

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